Changes in the total potential demand for a product are assessed as part of a firm's____________ environment.
A)Natural
B)Social and cultural
C)Economic
D)Technological

Question

Quizplus · Accepted Answer

Changes in the total potential demand for a product, such as changes in income levels, inflation, and unemployment rates, are part of the economic environment that a firm operates in. This environment includes all factors related to the economy, such as trends, cycles, and shifts in consumer behavior and spending patterns. Understanding and assessing these changes is important for a firm to make strategic decisions about its products, pricing, and marketing strategies.

Changes in the Total Potential Demand for a Product Are